Closure of 30 Stores Acquired from Casino: Impact on Employees and Reasons Behind the Decision

The Mousquetaires/Intermarché group announced on Thursday that it was considering closing 30 stores purchased from its competitor Casino, affecting around 680 employees. According to a statement, “commercial operation is currently impossible for these establishments.”

Discussions Opened with Affected Employees

Employee representatives and staff from the affected stores have been brought together to discuss the economic situation and the prospects of closing these retail locations.

Ongoing Financial Difficulties Despite Efforts

Despite the acquisition, 18 months ago, of some Casino stores and the preservation of over 10,000 jobs, the group emphasized that financial balance remains unattainable for these stores. This difficulty persists despite the sustained efforts of the group.

The decision to close these locations has led to the convening of a Social and Economic Committee (CSE) to discuss the future of these stores and the support that will be offered to employees, with full transparency and responsibility.

Multiple Causes: Insufficient Investments and Excessive Rent

The group explains that this situation is the result of a lack of investment in these stores in recent years, high rents, and an unsuitable commercial strategy, which led customers to turn to other competing brands. Additionally, for some of these stores, the rents remain disconnected from market prices, despite several attempts to negotiate with landlords.

Intermarché, which acquired 294 Casino stores in October 2023, stated that the operation aimed to strengthen its network, but that the challenge was significant due to the often poor condition of the stores, high rents, and customer defection due to the prices set by the previous management of Casino.

Support for Employees and Long-Term Strategy

Intermarché also emphasizes that despite these potential closures, individualized support will be provided to each affected employee, including job offers within the group.

The group had previously stated that the integration of Casino stores was expected to generate an additional 3 billion euros in annual revenue, with 211 stores converted to Intermarché and 62 to Netto, its discount chain. The remaining 21 stores will be sold off at the request of the French Competition Authority.